Active broad-market exchange-traded funds at mid-day:
SPDR S&P 500 (
): +0.03%; touched new 52-week high of $143.09
iShares Russell 2000 Index (
iPath S&P 500 VIX Short Term Futures TM (
): -0.09%; sank to a new year low of $11.03
Financial Select Sector SPDR (
PowerShares QQQ Trust, Series 1 (
): -0.41%, but earlier reached a new year high of $68.88
Broad Market Indicators
Broad-market exchange-traded funds, including SPY, IWM, IVV and
others, are mixed to firmer. Actively traded PowerShares QQQ (
) is down 0.4%, but earlier hit a new year high of $68.88.
U.S. stocks are firmer, tracking European markets higher. The
S&P 500 index climbed to a four-year high, as investors are
encouraged by earlier comments from EU leaders that they will
implement actions to contain the region's debt crisis. Hopes are
also high that the European Central Bank will pull down borrowing
costs for struggling EU countries.
Winners and Losers
Select Financial Sector SPDRs (
) is up 0.86%. Direxion Daily Financial Bull 3X shares (FAS) is up
1.9%. Its bearish counterpart, FAZ, is down 2% and earlier hit a
new year low $19.55.
Among actives in the sector, Citigroup Inc. (C) is up 2.9% after
Bloomberg reports it has become the first Western bank to issue
credit cards in China without co-branding from a local financial
institution as the government relaxes restrictions in the world's
second-largest economy. According to the report, the cards will be
denominated in yuan or dollars and accepted worldwide.
ETFs in the tech space are mixed: Technology Select Sector SPDR
ETF (XLK), down 0.6% having earlier hit new year highs; iShares Dow
Jones US Technology ETF (IYW), down 0.6%; and iShares S&P North
American Technology-Software Index (IGV), up 0.4%. Shares S&P
North American Technology ETF (IGM) is flat.
Semiconductor ETFs are higher: SPDR S&P Semiconductor (XSD),
up 0.4%; and Semiconductor Sector Index Fund (SOXX), up 0.27%.
SPDR S&P International Technology Sector ETF (IPK) is
Among tech stocks, Daktronics (DAKT) is up near 18% after the
company reported that in Q1 sales were $133 mln, vs. the analyst
consensus of $122 mln on Capital IQ. EPS was $0.16. The Street was
at $0.05 per share, but this may not be comparable. The company
also said that because of the record level of orders it booked
during the quarter, it expects net sales in Q2 FY13 to exceed the
level of net sales in the comparable quarter in FY12.
Dow Jones U.S. Energy Fund (IYE) is up 0.4%; Energy Select
Sector SPDR (XLE) is up 0.3%.
Among stocks, Rex Energy Corp (REXX) is up 9.5%. Analysts at
Capital One upgraded the natural gas company - which has interests
in the Utica Shale of western Pennsylvania and eastern Ohio - to
Strong Buy from Add.
Crude was up more than 1% while natural gas was up 0.83%. United
States Oil Fund (USO) is up 1.4%; United States Natural Gas Fund
(UNG) is up 1.1%.
Gold was up a little above 1%; silver was up around 2%. Among
rare metal funds, SPDR Gold Trust (GLD) is up 1.2%; and iShares
Silver Trust (SLV) is up 2.3%.
Among stocks, Paramount Gold and Silver (PZG) is up 1% after
reporting results from seven core holes drilled in its San Miguel
Project in Mexico. The company said the new holes continued to
return gold and silver mineralization.
Healthcare and biotech ETFs are ticking higher: Health Care SPDR
(XLV), up 0.1% to near year highs; iShares NASDAQ Biotechnology
Index (IBB), up 0.05%; Vanguard Health Care ETF (VHT), up 0.1% and
edging nearer to year highs; and iShares Dow Jones US Healthcare
(IYH), up 0.05% and nearer to year highs.
In corporate news, ImmunoCellular Therapeutics Ltd. (IMUC) is
down near 17% after the oncology biotech company selected Dr. John
S. Yu as its interim CEO, replacing Manish Singh, who resigned on
Monday. Yu also will continue in his role as Chief Scientific
Officer and board chairman during the search for a permanent chief
executive. Singh had been CEO at IMUC since 2008 and previously had
managed medical-industry investments for a venture-capital
Power Play -
Consumer ETFs are mostly higher: iShares Dow Jones US Consumer
Goods (IYK), up 0.07% to near year highs; and Vanguard Consumer
Staples ETF (VDC), up 0.07% and nearer to year highs. Consumer
Staples Select Sector SPDR (XLP) is down 0.14% having touched a
year high earlier.
Retail ETFs are also firmer: SPDR S&P Retail (XRT), up
0.31%; PowerShares Dynamic Retail (PMR), up 0.24%; and Market
Vectors Retail ETF (RTH), up 0.09% and has struck new year
Dex One Corporation (DEXO) continues to climb higher, now up
near 34%, adding to pre-market gains of more than 20% after the
company announced that it will merge with SuperMedia Inc. (SPMD) in
a stock-for-stock merger of equals, creating a national provider of
social, local and mobile marketing solutions through direct
relationships with local businesses. Upon closing of the
transaction, Dex One shareholders are expected to own around 60%
and SuperMedia shareholders are expected to own approximately 40%
of the combined company. SPMD shares are also surging, now up near
50% and near a 52-week high of $4.24.
Also moving on earnings news, Best Buy Co. Inc. (BBY) is down
1.7% but is off the new 52-week low of $16.25 hit earlier after the
electronics retailer reported Q2 adjusted earnings of $0.20 per
share, missing analyst estimates by $0.11. Revenues declined nearly
3% to $10.55 billion, trailing consensus expectations by $80
million. BBY is suspending its forward guidance, citing reduced
expectations for industry-wide sales and uncertainty about various